The current cryptocurrency market remains in a high-level oscillation pattern, with Bitcoin continuously tugging around the 70,000 level. After multiple attempts to push higher, it quickly retreated, indicating that both selling pressure and buying support exist in this area. On-chain data shows that recently, some short-term funds have been taking profits around the 70,000 mark, while long-term holding addresses have not shown significant signs of reducing their positions. Meanwhile, Ethereum has been repeatedly testing around the 2000 level, with bulls continuously supporting the 1980–2000 range. This creates a clear short-term support zone. If this area is broken, the market may further seek new liquidity support levels downward.

In terms of news, the United States is about to release the latest CPI data, which is generally seen as an important trigger for short-term volatility. Previously, several Federal Reserve officials have indicated that "more signs of inflation decline are needed before cutting rates," causing the market to remain cautious about the interest rate path. If this US CPI index exceeds market expectations, risk assets may face short-term pressure; if inflation continues to decline, it could reinforce market expectations of improved liquidity, thereby stimulating funds to flow back into the crypto market.

Additionally, recent tensions in the Middle East remain tense, with energy prices fluctuating at high levels. The inflationary pressure from rising crude oil prices is also a key market focus. Coupled with ongoing discussions about increased regulation of the crypto market by US authorities, overall market sentiment has become more cautious. Under the influence of multiple factors, Bitcoin’s 70,000 and Ethereum’s 2000 have become the most critical short-term market dividing lines. Once macroeconomic data is released and triggers capital flow decisions, market volatility is likely to significantly amplify.